Fosun plans US$1.4b listing
26 June 2007
Fosun International wants to raise up to US$1.4 billion by listing on Hong Kong's stock exchange, Reuters reported. It will offer 1.25 billion shares, about 20% of its enlarged share capital, at HK$6.48 to HK$8.68 each. Fosun, the mainland's largest privately held conglomerate, began its fund-raising roadshow yesterday. The group's main businesses are in the steel, property and pharmaceuticals industries. Its sponsors, UBS and Morgan Stanley, project Fosun's net profit to rise 77% to US$249.2 million this year.